Brokerages Set Rapid7, Inc. (NASDAQ:RPD) PT at $51.13

Rapid7, Inc. (NASDAQ:RPD) has received a consensus recommendation of “Hold” from the eighteen analysts that are currently covering the firm, MarketBeat reports. Thirteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $49.00.

A number of brokerages recently commented on RPD. Truist Financial dropped their target price on Rapid7 from $50.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, May 8th. UBS Group lowered their price objective on Rapid7 from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Stifel Nicolaus lowered their price objective on Rapid7 from $63.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Piper Sandler lowered their price objective on Rapid7 from $56.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th. Finally, Mizuho lowered their price objective on Rapid7 from $62.00 to $47.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th.

Rapid7 Stock Performance

Shares of Rapid7 stock opened at $35.28 on Friday. The company has a market capitalization of $2.20 billion, a PE ratio of -17.21 and a beta of 0.98. The company has a 50-day simple moving average of $38.87 and a two-hundred day simple moving average of $46.29. Rapid7 has a one year low of $33.34 and a one year high of $61.88.

Rapid7 (NASDAQ:RPD) last announced its earnings results on Tuesday, May 7th. The technology company reported $0.22 EPS for the quarter, hitting analysts’ consensus estimates of $0.22. Rapid7 had a negative net margin of 15.14% and a negative return on equity of 31.09%. The business had revenue of $205.10 million during the quarter, compared to the consensus estimate of $204.10 million. On average, equities analysts predict that Rapid7 will post 0.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rapid7

Several institutional investors have recently bought and sold shares of RPD. Lisanti Capital Growth LLC acquired a new position in shares of Rapid7 during the fourth quarter worth about $3,522,000. Price T Rowe Associates Inc. MD boosted its holdings in Rapid7 by 3.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 503,468 shares of the technology company’s stock valued at $24,691,000 after purchasing an additional 18,907 shares in the last quarter. Duality Advisers LP acquired a new position in Rapid7 in the fourth quarter valued at approximately $235,000. First Trust Advisors LP boosted its holdings in Rapid7 by 49.2% in the fourth quarter. First Trust Advisors LP now owns 3,409,246 shares of the technology company’s stock valued at $194,668,000 after purchasing an additional 1,124,429 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Rapid7 by 453.9% in the first quarter. Principal Financial Group Inc. now owns 38,764 shares of the technology company’s stock valued at $1,901,000 after purchasing an additional 31,766 shares in the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

About Rapid7

Rapid7, Inc provides cybersecurity solutions under the Rapid7, Nexpose, and Metasploit brand names. The company offers endpoint to cloud data collection and sharing applications, such as Rapid7 Insight Agent, a software-based agent that is used on assets across on-premises and cloud environments to centralize and monitor data on company's platform; Rapid7 Insight Network Sensor that analyzes raw end-to-end network traffic to increase visibility into user activity, pinpoint real threats, and investigations; Rapid7 Cloud Event Data Harvesting that offers visibility into changes made to cloud resources; and third-party integrations and ecosystem, as well as orchestration and automation solutions.